Bitcoin ban, mission impossible

[sapnu]

Given the nature of this digital currency, there are always conversations to be heard about not buying Bitcoin, as Bitcoin works outside the traditional banking system, so there are too many opponents to it. However, its design is such that no one can create a particular barrier to buying it. If you have access to the Internet and a Bitcoin wallet, you can invest in buying Bitcoin.

Many countries have struggled to obtain this digital currency. Bolivia, Thailand, Vietnam and Bangladesh, for example, are all trying to obtain Bitcoin. Even more advanced countries such as Russia, Japan, Australia and Venezuela have attempted to legally sell Bitcoin. But it is interesting to note that some countries, such as India and the United States, have not yet taken action in this regard and have not yet defined an official policy on such currencies.

In general, it should be said that bitcoin cannot be an obstacle, and this is one of the advantages of Bitcoin.

The reputation of bitcoin over the years was taken care of over the years and having it getting banned by some countries specially China is something that might confuse many. Those countries who chose to restrict the use of bitcoin might have their reasons like they see cryptocurrencies and bitcoin as a threat to their economy or to their power over the citizens. Bitcoin's purpose is to introduce convenience in transactions and give financial freedom to many but when it come to the betterment of the economy of a country, we cannot rely bitcoin to aid that one so we should know what role bitcoin plays in a certain country.

[pawanjain]

Given the nature of this digital currency, there are always conversations to be heard about not buying Bitcoin, as Bitcoin works outside the traditional banking system, so there are too many opponents to it. However, its design is such that no one can create a particular barrier to buying it. If you have access to the Internet and a Bitcoin wallet, you can invest in buying Bitcoin.

Many countries have struggled to obtain this digital currency. Bolivia, Thailand, Vietnam and Bangladesh, for example, are all trying to obtain Bitcoin. Even more advanced countries such as Russia, Japan, Australia and Venezuela have attempted to legally sell Bitcoin. But it is interesting to note that some countries, such as India and the United States, have not yet taken action in this regard and have not yet defined an official policy on such currencies.

In general, it should be said that bitcoin cannot be an obstacle, and this is one of the advantages of Bitcoin.

The countries which have not adopted crypto yet are still not fully familiar with regulating cryptocurrencies.
Many countries are worried for their citizens and that it will increase the amount of online fraud.
Many countries are still worried because cryptocurrencies like bitcoin is a strong competition to their tradition fiat currency.
Many countries are worried that it will increase money laundering and corruption.

While these countries are facing such issues I am positive that they will find a way through it and will soon adopt cryptocurrencies.
Some countries have already started the adoption of cryptocurrencies and other will just follow their lead.

[Easteregg69]

So it's a matter of control.

Edit: Space for oneliner.

[bosede1]

If you check you will see that most countries that have legally accepted Bitcoin are a developed country who knows the importance of technology and a digital world. For the underdeveloped ones they need to know the benefit  and I hope they get it soon

[Easteregg69]

If you check you will see that most countries that have legally accepted Bitcoin are a developed country who knows the importance of technology and a digital world. For the underdeveloped ones they need to know the benefit  and I hope they get it soon

Son of Dane..

[Sihab76]

Countries that have not yet recognized Bitcoin will gradually recognize Bitcoin. Countries that have recognized and re-banned Bitcoin have reported negative effects on Bitcoin.In addition to banning Bitcoin by evaluating its use, Bitcoin has thrown away mining machines.

[geegaw]

Even all governments in the world unite to stop bitcoin, they cannot stop until there are still few miners left.  They can "pause" bitcoin blockchain by ordering to stop the internet connection around the world but once the internet comes back, bitcoin blockchain will continue.

Solidarity can cut down bitcoin's deepest roots and like the bitcoin mines in China, the government just need to seriously make the rules then the enforcement teams start to carry out their duties, the miners won't have land to open factories but unity has never been achieved in the majority, old and new enmities between nations are relatively numerous, they have their own ambitions on the world battlefield. Since then, bitcoin is like a horse that can run around without fear of a ban, its land is too wild for the government

[Imran232]

Yeah its right when the whole world is depending on technology they are upgrading them self with innovative thing what virtually can possible. Yes its true that people are now mostly interested in virtual thing to try like ebook, e-learning types of products becoming more popular than physical. Now people wants to do their work within a moment. Now they want to do lots of work Through smartphone or computer at home. And bitcoin is mostly becomes popular as a best investment option for everyone because of its price. Though its become popular day by day for people so government should take step to make it more user friendly and government friendly they can't make it banned anymore. Thats why lots of country are doing progress on it. As per my prediction.

[stomachgrowls]

ban bitcoin, is a mission impossible,?? I totally agree with your opinion, bitcoin can now be said to be very popular, bitcoin is now controlled by teenagers, young people and even parents, entrepreneurs, millionaires, and even the government already has bitcoin, so it's definitely impossible to ban bitcoin, the proof is that the government has always banned bitcoin, but they always fail.

They cant totally banned it but they would really be focusing rather into those platforms that could really be controlled or on where they could able to put up restrictions but talking about banning directly is something

that they had been doing for years already but still failed to do so and thats why most of governments do really hate up when talking about crypto or specifically with Bitcoin. Mission impossible on the sense of direct banning or getting control of it but  it could really be possible in the sense of targeting centralized platforms.

We've seen lots of bans from here to there but still Bitcoin stood strong and do even hit up all time highs.

[dificanovi]

bitcoin can not be stopped and destroyed because there are so many bitcoin users around the world. Bitcoins can give someone a huge profit from holding a few bitcoins for the future. I think it's more to gain than lose if we have some Bitcoins, I think this factor is what makes some governments accept bitcoins as currency.

[pealr12]

If you check you will see that most countries that have legally accepted Bitcoin are a developed country who knows the importance of technology and a digital world. For the underdeveloped ones they need to know the benefit  and I hope they get it soon

Really? can you name some of this developed countries that have already legalize btc! because to me it seem most countries are yet to decide what policy to impose on btc usage, some countries are neutral about the situation, not legalize or ban it, while country like el-Salvador have openly legalize it although am not sure how successful that has become, how the citizens are cooping with the new payment system.
Most government of different countries seem to be confuse on how best to approach btc to fit in their economy, but soon they will be force to take this decision when they realize they can stop it from speeding.

[avikz]

Given the nature of this digital currency, there are always conversations to be heard about not buying Bitcoin, as Bitcoin works outside the traditional banking system, so there are too many opponents to it. However, its design is such that no one can create a particular barrier to buying it. If you have access to the Internet and a Bitcoin wallet, you can invest in buying Bitcoin.

Many countries have struggled to obtain this digital currency. Bolivia, Thailand, Vietnam and Bangladesh, for example, are all trying to obtain Bitcoin. Even more advanced countries such as Russia, Japan, Australia and Venezuela have attempted to legally sell Bitcoin. But it is interesting to note that some countries, such as India and the United States, have not yet taken action in this regard and have not yet defined an official policy on such currencies.

In general, it should be said that bitcoin cannot be an obstacle, and this is one of the advantages of Bitcoin.

Well, it all depends on the leadership of a country. Leadership with progressive people in it, have opted for bitcoin and people with regressive mentality in the leadership, have decided to ban it. India's crypto bill is on the way and possibly within next few weeks, you all will hear sad news from India that the government has decided to ban bitcoin.

However, having said that, it is really impossible to enforce the ban. The law can have its provisions for banning it, but to practice that in reality, is a whole different story! So it's not wrong to say that banning bitcoin is a mission impossible! But negative legality will definitely discourage a lot of people!

[BITCOIN4X]

Banning Bitcoin doesn't mean a government would prevent using it. Banning means they aren't allowing it to deal officially. Today or tomorrow most counties will welcome when they will realize Bitcoin technology. Technically it's impossible preventing Bitcoin use. Governments are just worried that they are unable to control it and they never want to give us financial freedom.

Regulating its users seem to make more sense for the government than having to control the network (blockchain). Government cant ban bitcoin, but they can prohibit users from using bitcoin in the jurisdiction of a country. Example: Indonesia prohibit bitcoin users from using it as a mean of payment but they allow bitcoin users to trade and invest on their own responsibility. This is a form of government control over these asset. Of course that something that is controlled will benefit the government or other interested parties.

[livingfree]

The latter countries, they never go wrong with that expectation and so for those countries that still doesn't have a firm stand towards bitcoin. It is okay, they'll lift those bans and will announce that they'll be opening policies to regulate bitcoin so that their citizens are protected from the possible scams and as well as audit most of the bitcoin holders in their jurisdiction upon selling.

Only a matter of time for these countries although not all countries like China, Russia and other superpower nations, they have a strong economy that they don't need reliance towards bitcoin and they're just too paranoid to have something that they can't control be freely used by their citizens.

That's what makes them going to be stronger.

If they add some investments and allowing bitcoin for their citizens, they're likely going to have another way of going to contribute to their entire economy despite they're already strong in terms of it.

[Smartvirus]

I've come to hear of bitcoin being banned far too many times that, it almost feels like a normal thing already. This is one impossible task and the earlier the government settles with this reality, then they can see ways through which bitcoin could be incorporated into the system to make the living of the citizenry simple and better which would in turn reflect positively on the government. It would lead to to true cashless policy too.
The note printing would be another way to the regulation as some transactions could be only done using fiat currencies, especially for the purchase of goods from merchants that aren't technologically inclined.

[isaac_clarke22]

~

Yeah it feels like a normal thing in the way that those bans aren't even permanent anyway, though it depends to some countries. I recall last year when Russia even stopped it total ban in cryptocurrency. Cashless policy feels like still a meh, even though that could possibly lead to mass adoption of cryptos. There are still many people out there that are not used to modern technologies hindering these cashless transactions since most of the time it would involve those technologies we usually use today that is somehow seen now as "common thing".

[eaLiTy]

~
Many countries have struggled to obtain this digital currency. Bolivia, Thailand, Vietnam and Bangladesh, for example, are all trying to obtain Bitcoin. Even more advanced countries such as Russia, Japan, Australia and Venezuela have attempted to legally sell Bitcoin. But it is interesting to note that some countries, such as India and the United States, have not yet taken action in this regard and have not yet defined an official policy on such currencies.

I was confused reading your statement about obtaining the currency  . Some countries tries to restrict the front end exchange by restricting the central bank to trade with cryptocurrency exchanges and business ventures or outright ban them. All they can do is to disrupt and nothing more.

Countries like India took action against cryptocurrency exchanges through the central bank and the community fought against that in Supreme court and won the case and that is how these exchanges started operating again.

Unlike POS coins that are run in a limited number of nodes, BTCitcoin is decentralized.

[maju69]

Many countries have struggled to obtain this digital currency. Bolivia, Thailand, Vietnam and Bangladesh, for example, are all trying to obtain Bitcoin. Even more advanced countries such as Russia, Japan, Australia and Venezuela have attempted to legally sell Bitcoin. But it is interesting to note that some countries, such as India and the United States, have not yet taken action in this regard and have not yet defined an official policy on such currencies.

Really, even Bitcoin becomes a solution in improving the economy of a country if they see it all. Bitcoin has potential that states and governments cannot own unilaterally. In this way, the impact that extends gives unlimited freedom. The US and India have not yet decided in its entirety, but their citizens are still active in Bitcoin exchanges without being noticed. We who are far from these countries are still in the introduction stage between Bitcoin and the government. So it's likely to be even closer.

[DarkDays]

There are countries that see the value of Bitcoin and they'd rather not impede its development, plus its people can't be stopped in acquiring the coin because the demand among them is so high that they may even go to extreme to get it. So in a sense, in these places why try to interfere with the impossible?

And there are other counties which are complete against it for various reasons, and it uses its power to stop the people from getting access to it but in my view this will be futile.

[lalabotax]

Not everyone or every country will agree with Bitcoin.
Although Bitcoin is still banned in many countries, it doesn't mean that it can stop the involvement of the citizens of the country to own, invest, or trade Bitcoin.
It is because Bitcoin is decentralized and everyone can use it not based on the rules and regulations of a country. But of course, it may have limitations, moreover when it comes to cashing out Bitcoin into fiat.
I only expect really that many more countries at least will not ban Bitcoin again and accept many more adoption of cryptocurrency